Hyperdrive
Porsche to Cut 1,900 Jobs in Germany After EV Demand Slumps
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Porsche AG will trim its workforce by 1,900 employees by the end of the decade in response to weak electric vehicle demand and “challenging geopolitical and economic conditions.”
The Volkswagen AG-controlled luxury brand plans to reduce headcount at two German sites through voluntary measures like early retirement and severance packages, and will take a “restrictive approach” to new hires, it said Thursday. The goal is to reduce staffing in Zuffenhausen and Weissach by 15% by 2029.